Investcorp has acquired 100 percent of Mercury. Four representatives from Investcorp will join Mercury’s board of directors post-acquisition, with Mercury’s management team continuing to run the business.

For the Bahrain-listed firm, it’s a strategic play. Investcorp is at a point at which raising institutional capital and reaching new investors are top priorities. The firm has historically raised the bulk of its capital from wealthy families and individuals in the Middle East. This year it has already sealed two big secondaries transactions that have ushered Coller Capital and Harbourvest into its investor base and raised fresh capital for both its buyout and tech sector programs. The firm raised $548 million in the last six months of 2018, according to its most recent results, more than double what it raised in the same period the year before.

The acquisition of Mercury brings more than 50 fundraisers across 14 offices into a firm with global growth plans. Last year, Mercury facilitated over $6.5 billion in aggregate capital commitments in North America, Asia and Europe across real estate, private equity, private credit, secondaries and direct transactions. Mercury also has iFunds, a fintech platform offering family offices and wealth advisors access to alternatives investments.

Mercury will continue to operate as an independent placement agent, the two firms said this week, but it would defy logic to think its fundraisers won’t be unleashed on Investcorp’s own products.